There has been an burst of exuberance
as of late as the market, after four arduous years, got back to its
pre-crisis levels. Much has been attributed to the recent burst of
optimism in the financial markets from:
1) Better than expected earnings
- not counting the fact that expectations had been dramatically lowered
over the last quarter. If you lower the bar enough you will get better
results. However, if expectations levels had remained where they were
previously every single report would have missed so far.
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